The Company is also pleased to announce estimates of additional mineral
potential that exists outside of the recently reported $1,200 per ounce
gold in-shell resource that are not included in the Feasibility Study.
Please see the section below titled "Potential Mineral Deposits" for
details. Haile continues to remain open in all directions and at depth
with significant potential for continuing to increase resources and
reserves.

Highlights of the Feasibility Study (base case at $950/oz gold):

One of the lowest capital cost, lowest operating cost and highest-grade
open-pit gold mines in the industry

Capital costs of $275 million

Average cash cost (after by-product credit) of $347 per ounce first five
years

Reserve grade of 2.06 grams/tonne

Proven and probable reserves of 2.0 million contained ounces of gold

Robust project economics

At $950 gold, pre-tax net present value (NPV) at 5% discount of $279
million and internal rate of return (IRR) of 19.6%

Mine life in excess of 13 years at a mill throughput of 7,000 tons per
day (tpd)

First year production of 172,000 ounces of gold

First 5 years production average 150,000 ounces gold per year

Average 83.7% gold recovery

Life of mine (LOM) strip ratio of 7.2:1

The Feasibility Study does not include:

Horseshoe, Snake Deep, West Ledbetter and some portions of Mill Zone,
Small and Champion deposits.

Inferred resources in the $950 pit

These zones required additional drilling and are the target of the 2011
exploration program.

The project will be designed and constructed to meet the International
Cyanide Management Code standards

Proven and probable reserves and the mine plan were calculated using a
$950 per ounce gold price and drill data from the most recently
reported in-shell resource (calculated at $1,200 per ounce gold with
drill results through September 30, 2010). The project has been
specifically designed to facilitate expansion early in the mine life.
Studies are currently being conducted to evaluate both open-pit and
under-ground expansion alternatives.

Once the necessary permits have been received and financing is in place,
Romarco plans to proceed immediately with the construction and
commissioning of the project as the first phase of development in the
Haile district. Detailed design work is currently underway on the
project.

Development of the Haile project will deliver significant, positive
impact on the economies of Lancaster and Kershaw counties, and the
state of South Carolina. Romarco anticipates directly employing
approximately 500 persons at site during construction and approximately
300 persons on a sustaining basis once in production. Future expansions
at Haile would require additional personnel. The Company will continue
to hire locally and use local and regional suppliers as it has over the
past three years. The Company currently spends in excess of $1 million
per month locally, including wages. Contractors and consultants provide
additional economic benefits. The multiplier on the economic impact of
Haile to the local community and county will be significant.

Financial Analysis

The financial analysis for the Base Case ($950 gold and $18 silver) indicates a pre-tax NPV at a 5% discount rate
of $279 million with an IRR of 19.6%and a payback period of 4.2 years. On an after-tax basis, the NPV at a
5% discount rate is $191 million with an IRR of 15.7%. The base case
is expected to generate $508 millionin pre-tax operating cash flow.

The open pit mineral reserves and resources were completed by
Independent Mining Consultants (IMC), with John Marek, P.E. acting as
the Qualified Person (QP) for the calculations. The proven and
probable reserves were developed from the block model and the mine plan
using a gold price of $950 per ounce. The mineral reserve is the total
of all proven and probable category mineralization in the Feasibility
mine plan.

The floating cone algorithm provided guidance to the design of the
pushbacks and the final pits. Multiple cones at a range of metal
prices were run in order to determine the best place to start mining,
initial pit openings, and guidance to final pit geometries.

The mineral reserves and resources are summarized in Table 2 and Table 3
below:

Table 2: Proven and Probable Reserves @ $950/oz Gold

Category

Metric tonnes (000s)

Grade g/tonne

Short tons (000s)

Gradeoz/ton

Containedoz (000s)

Recoveredoz (000s)

Proven

19,592

2.19

21,596

0.064

1,382

1,166

Probable

10,917

1.82

12,034

0.053

636

515

Proven+Probable

30,509

2.06

33,630

0.060

2,018

1,681

Table 3: In-Shell Resources @$1,200/oz Gold*

Category

Metric tonnes (000s)

Gradeg/tonne

Short tons (000s)

Gradeoz/ton

Containedoz (000s)

Measured

27,782

1.89

30,624

0.055

1,684

Indicated

25,596

1.75

28,215

0.051

1,439

Measured+Indicated

53,378

1.82

58,839

0.053

3,123

Inferred

24,944

1.34

27,496

0.039

1,072

*Previously released November 2, 2010 and filed December 14, 2010 on
SEDAR.

Exploration Potential - Potential Mineral Deposits

Significant upside potential exists within and surrounding the Haile
mineralized system, which continues to remain open in all directions
and at depth. The Company's focus is to expand the resource within and
near known deposits, upgrade inferred mineral resources, and discover
new deposits in areas surrounding the known deposits where drilling is
sparse. Romarco will also begin exploring further along trend, stepping
easterly of the Horseshoe zone, and westerly of the Champion and 601
areas that are over 1 km west of South Pit. Additionally, as the
Company continues to expand its land position throughout the district,
exploration drilling will be initiated to evaluate these prospective
new target areas. Romarco's regional exploration team has identified
several new target areas beyond the Haile system with historical
drilling, and in some cases existing historical resources. The 2011
exploration program consists of 110,000 meters of both RC and core
drilling.

Potential mineral deposits within the proposed mine site were created in
order to estimate potential zones of gold mineralization outside of the
in-shell resource estimate ($1,200 gold). These zones are based on
trends, geology, and scattered drilling. It should be recognized that
these zones list only the areas where current knowledge of Haile's
mineralization is sufficient to indicate that these zones are viable
targets. These potential mineral deposits represent a small portion of
the Haile property.There are numerous additional targets at Haile that
are not listed here. Therefore, these tonnages and grades should not
be construed as minimums or maximums. Independent Mining Consultants
(IMC) has reviewed the geometries and procedures applied by Haile in
developing the potential mineral deposits. As a result, IMC holds the
opinion that those procedures are a reasonable means to establish range
estimates of potential quantities and grades for future drill targets.

The conceptual estimates were based on projecting potential mineralized
zones through areas with limited drill information. The zones were
developed by constructing 3-dimensional wireframes using Vulcan mine
planning software and a minimum grade of 0.34 g/t.

Quantity ranges were estimated using two scenarios: Scenario A used
geologic inference to determine the orientation and extent of the zones
along known mineralized trends based on the Haile geologic model and
current drill results. Scenario B excluded the distal portions of the
potential mineralized zones. Ranges of grade were assigned to the
potential mineralized zones using two cases: Case A applied the
average grade for zones within the $1,200 per ounce gold shell to the
adjacent zones outside the shell, and Case B was determined by taking
an arithmetic average of all the drill composites within each zone
outside the $1,200 per ounce gold shell. It should be noted that
averaging all composites has a tendency to reduce the grade versus
resource techniques that discard low-grade intervals.

The resulting potential ranges of quantities and grades listed below are
conceptual in nature based on geologic knowledge, interpretation and
wireframes. There has been insufficient exploration to define a
mineral resource and it is uncertain if further exploration will result
in any of the targeted areas being delineated as a mineral resource.
The Company currently plans to focus on further exploration drilling
within these potential mineral deposits during 2011 and beyond. Tables
4.1 (Imperial Units) and 4.2 (Metric Units) display the potential
mineral deposits at Haile.

Table 4.1: Potential Mineral Deposits (ImperialUnits)

Zone

Scenario Atons (000s)

Scenario Btons (000s)

Case Aoz/t

Case Boz/t

Horseshoe

18,200

15,384

0.099

0.061

Ledbetter

24,000

19,381

0.069

0.025

Snake

4,372

3,777

0.058

0.034

Chase Hill

1,800

1,670

0.031

0.027

Mill Zone

2,000

1,734

0.043

0.038

Small

5,555

4,573

0.019

0.018

601 Area

7,348

5,970

0.026

0.024

Champion

7,335

5,476

0.028

0.024

Total

70,610

57,965

0.062

0.034

Table 4.2: Potential Mineral Deposits (Metric Units)

Zone

Scenario A tonnes (000s)

Scenario B tonnes (000s)

Case Ag/t

Case Bg/t

Horseshoe

16,511

13,956

3.39

2.09

Ledbetter

21,772

17,582

2.37

0.86

Snake

3,966

3,426

1.99

1.17

Chase Hill

1,633

1,515

1.06

0.93

Mill Zone

1,814

1,573

1.47

1.30

Small

5,039

4,149

0.65

0.62

601 Area

6,666

5,416

0.89

0.82

Champion

6,654

4,968

0.96

0.82

Total

64,055

52,585

2.11

1.18

Mining and Production

Romarco plans to use conventional open pit mining methods. A
combination of hard rock and soft rock will be encountered in the
deposit during the mining process. The majority of the material from
the mine will be hard rock, which will be drilled and blasted prior to
loading. The initial mining fleet consists of fourteen100-ton haul
trucks, two 15 cu yd front-end loaders, and one 14.4 cu yd hydraulic
front shovel, with various support equipment. The mine plan produces
2.55 million tons of ore per year for delivery to the process plant
(7,000 tpd). A variable cutoff grade strategy was utilized for the
mining schedule in order to provide higher-grade mill feed during the
early years, while stockpiling low-grade material to be processed at
the end of the project life. The pit design is based on variable pit
slope angles. The inter-ramp slope angles utilized are 49 degrees for
the north walls, 38 to 45 degrees for the south walls, 40 degrees in
the saprolite, and 27 degrees for the coastal plains sand.

Metallurgy and Processing

The plant design incorporates conventional precious metals recovery
processes including jaw crushing, semi-autogenous and ball milling,
flotation, fine grinding of the flotation concentrate, and
carbon-in-leach cyanidation. The plant will process nominal 7,000 tpd
based on 92% plant availability. Gold recovery is calculated at 83.7%
based on an average head grade of 2.06 g/t. Primary grind product size
is estimated at P80 = 74 microns. Fine grind product size of the flotation concentrate is
estimated at P80 = 15 microns. Nominal leach times for flotation tailing and flotation
concentrate are 20 hours and 40 hours respectively. The design is
based on numerous tests that were conducted at various laboratories,
including Resource Development Inc. located in Denver, Colorado. Final
plant tailing will be stored in a conventional tailing facility.
Well-proven and commercially applied sulfur dioxide/air cyanide
destruction technology will be used as needed to ensure tailing meets
International Cyanide Management Code standards.

Land and Infrastructure

The Haile property is situated 4.8 kilometers northeast of the Town of
Kershaw in Lancaster County, South Carolina, USA. The site is roughly
one hour south of Charlotte, North Carolina and one and one half hour
northeast of Columbia, South Carolina. The project is somewhat unique
in that it is situated wholly on private land 100% owned fee simple
(surface, water, and mineral rights) and no royalties. Private lands,
unlike federal (BLM or USFS) lands are not subject to the proposed
amendment of the 1872 mining law imposing federal royalties on mining
properties. To date the Company's land position is approximately 8,000
acres.

The proximity to existing infrastructure reduces project costs because
the project is easily accessible and there is adequate housing, power,
phone, and water. Natural gas, sanitary sewer, and potable water lines
run along Highway 601, which borders the Haile property to the west.
Haile has two sources of power available to it - Duke Energy and
Lynches River Power Cooperative. The power transmission infrastructure
is well established, and less than 8 kilometers of new Duke or Lynches
River service will be required.

Operating Costs

The cash operating costs are provided in Table 5 below. Life of mine
(LOM) unit costs per ton of ore is $18.92 and the unit cost per ounce
of gold produced is $379 including by-product credits. The G&A
component of the cash operating costs includes property taxes of $0.62
per ton of ore, or $12.51 per ounce.

Table 5: Cash Operating Costs

$ per ton of ore

$ per ounce of gold

Mining

9.62

192.84

Processing

7.67

153.61

G&A

2.26

45.28

Shipping/Refining

0.17

3.50

Sub-Total

19.72

395.23

By-product (Silver) Credit

(0.80)

(15.96)

Total After By-product Credit

18.92

379.27

Opportunities

Conversion of measured and indicated as well as inferred resources
within the $1200 shell

Infill drilling to connect the pit bottoms of South Pit, Ledbetter, and
Snake could lead to a lower overall strip ratio and increased gold
ounces

Continued expansion of the high grade Mill Zone to maintain higher
production levels beyond the first year

A throughput expansion early in the mine life to improve project
economics

Further exploration:

at Horseshoe to develop higher grade underground potential

between Snake Deep and Horseshoe to connect mineralization

stepping out in all directions

Completion of the underground scoping study at Horseshoe for possible
expansion scenario - this higher grade ore would lead to increased
production and grade

The Feasibility study was prepared by leading independent industry
consultants, all Qualified Persons (QP) under National Instrument (NI)
43-101, with the collaboration of the Romarco technical group. The
QP's have reviewed and approved the content of this news release.
Table 6 below details the following consultants that participated in
the study:

An updated NI 43-101 compliant technical report reflecting additional
information in the Feasibility Study will be filed on the Company's
website and on SEDAR as soon as it is completed.

Conference Call

Romarco will hold a conference call tomorrow (Thursday, February 10,
2011) at 10 am EST where senior management will discuss the Feasibility
study and respond to questions from analysts and investors. To join
the call:

In Canada and the United States -

1-877-974-0445

International -

416-644-3426

The conference call will be recorded and playback of the call will be
available after the event by dialing toll free in Canada and the United
States 1-800-642-1687, or locally 416-640-1917, pass code 4409867#
(available up to February 17, 2011).

About Romarco Minerals Inc.

Romarco Minerals Inc. is a gold development company focused on
production primarily in the US. The Company has completed a positive
Feasibility study and is continuing exploration drilling and permitting
for its flagship project, the Haile Gold Mine in South Carolina.

Please note:
This entire press release may be accessed via fax, e-mail, Romarco's
website at www.romarco.com and through CNW Group's website at www.newswire.ca. All material information on Romarco Minerals Inc. can be found at www.sedar.com

Forward-Looking Information

This News Release contains "forward-looking information" that is based
on Romarco's expectations, estimates and projections as of the dates as
of which those statements were made. This forward-looking information
includes, among other things, statements with respect to the Company's
business strategy, plans, outlook, financing plans, long-term growth in
cash flow, shareholder value, projections, targets and expectations as
to reserves, resources, results of exploration (including targets) and
related expenses, mine development, mine operations, mine production
costs, drilling activity, sampling and other data, estimating grade
levels, future recovery levels, future production levels, capital
costs, cost savings, cash and total costs of production of gold,
expenditures for environmental matters, projected life of Romarco's
mines, reclamation and other post closure obligations and estimated
future expenditures for those matters, completion dates for the various
development stages of mines, availability of water for milling and
mining, future gold prices (including the long-term estimated prices
used in calculating Romarco's mineral reserves), end-use demand for
gold, currency exchange rates, debt reductions, use of future tax
assets, timing of expected sales and final pricing of concentrate
sales, and the percentage of anticipated production covered by option
contracts or agreements. Generally, this forward-looking information
can be identified by the use of forward-looking terminology such as
"outlook", "anticipate", "project", "target", "believe", "estimate",
"expect", "intend", "should", "scheduled", "will", "plan" and similar
expressions. Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause Romarco's
actual results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking information, and developed based on assumptions about
such risks, uncertainties and other factors set out herein, including
but not limited to:

uncertainties relating to the success of the Company's gold exploration
and development properties and the ability to develop a producing mine;

uncertainties associated with the highly speculative nature of the
Company's operations;

uncertainties associated with fluctuations in gold prices;

uncertainties relating to resources and reserves estimates;

risk that the Company may yield less mineral production under actual
conditions than is currently estimated;

risk that the Company may be unable to secure further capital necessary
to carry out its operations;

uncertainties relating to the ability of the Company to secure the
various permits to conduct its current and anticipated future
operations;

inherent uncertainties associated with exploration and development
activities;

uncertainties relating to the ability of the Company to successfully
acquire additional mineral rights;

uncertainties associated with integrating new acquisitions into existing
operations;

risk that Romarco will be unable to attract and retain the necessary
qualified management and technical personnel to meet the requirements
of its anticipated growth;

uncertainties relating to the Company's ability to effectively manage
growth;

risks associated with the limited operating history of the Company and
the lack of history of earnings, positive cash flow or dividend
payments;

risk that the Company's insurance coverage may not cover all of its
potential losses, liabilities and damage related to its business;

uncertainties related to recent market events;

uncertainties related to the current global financial conditions; and

conflicts of interest.

A discussion of these and other factors that may affect Romarco's actual
results, performance, achievements or financial position is contained
in the filings by Romarco with the Canadian provincial securities
regulatory authorities, including Romarco's Annual Information Form.
Forward-looking statements are based on assumptions management believes
to be reasonable, including but not limited to the continued operation
of Romarco's mining operations, no material adverse change in the
market price of commodities, that the mining operations will operate in
accordance with Romarco's public statements and achieve its stated
production outcomes, and such other assumptions and factors as set out
herein. Although Romarco has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking statements will prove to
be accurate. Accordingly, readers should not place undue reliance on
forward-looking statements. Romarco disclaims any intent or obligations
to update or revise publicly any forward-looking statements whether as
a result of new information, estimates or options, future events or
results or otherwise, unless required to do so by law.